Sierra Nevada Realtors: Purchasing a home may be easier than you think
Submitted by Carson Now Reader on Tue, 03/24/2020 - 7:22am
When purchasing a home, the process and financial requirements can seem daunting. There are many resources specific to our local area that are in place to ensure buyers have success and confidence in their purchase.
Kyle Rush, senior loan officer at Guild Mortgage in Carson City, says the first, most critical step of preparing for home ownership is education, most often by meeting with a knowledgeable loan officer.
“Someone that can clearly outline the loan options and how things like grants or tax credits can make homeownership possible. I love helping clients create a map to financial health and in my opinion it starts with owning your home. I think the most important factor to a first-time buyer is gaining an understanding of the products and programs that are designed to help them,” Kyle says.
There are many of these products and programs available. Nevada Rural Housing Authority, also based in Carson City, makes it easier for Nevadans to purchase a home through their signature Home At Last Homeownership Programs. These programs include a lease-to-own option, pet adoption fee waivers, and, perhaps best-known, a down-payment assistance program.
Home At Last offers eligible borrowers down payment assistance worth up to 5 percent of the purchase price of the home, a debt that is completely forgiven after living in the home as a primary residence for three years. This assistance is likely to cover a significant portion of a borrower’s down payment and closing costs.
Loan rates and corresponding down payment assistance percentages are published on a daily basis for easy reference.
To qualify for Home At Last Homeownership Programs, buyers must purchase a home in a qualified rural area (which includes a vast majority of Northern Nevada), have a FICO score of at least 640, complete an online Homebuyer Education course, and earn less than $135,000 per year. The education requirement helps buyers to understand the process of qualifying for a loan and buying a home.
Purchasing a home is known to be one of the best ways to build wealth over time and is a great accomplishment. With these programs available, this accomplishment may be more attainable than you think.
A lender like Kyle Rush can offer a free consultation to see what you may be qualified to purchase and can guide you through the purchasing process, including sorting through and applying for the many grants and programs available to you. Sierra Nevada Realtors and Nevada Rural Housing Authority are here to be a resource for buyers and sellers alike.
To contact Kyle Rush at Guild Mortgage, send an e-mail to krush@guildmortgage.net or call (775) 885-6892.
For more information about Home At Last Homeownership Programs, visit www.HomeAtLastNV.org or call (775) 887-1797.
- Carson City
- 000
- carson
- City
- down-payment assistance
- financial
- Free
- grants
- Guild Mortgage
- Health
- help
- Helping
- home
- Home Ownership
- Homeownership
- Housing
- information
- local
- love
- May
- meeting
- Mortgage
- Nevada
- Nevada Rural Housing Authority
- Northern Nevada
- online
- opinion
- Pet
- program
- Programs
- Rates
- Real Estate
- Realtors
- Rural
- Rural housing authority
- senior
- Sierra
- Sierra Nevada
- tax
- Education
